CAI International (CAI) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of CAI International (NYSE:CAI) from a hold rating to a buy rating in a research note released on Monday morning. They currently have $25.00 price objective on the transportation company’s stock.

According to Zacks, “CAI INTERNATIONAL, INC. is one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which CAI leases primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf CAI manages the containers. Accordingly, CAI operates its business through two segments: container leasing and container fleet management. Through its international network of offices and agents CAI also has developed an active after-market program for containers retired from the international shipping fleet. “

Several other equities analysts also recently weighed in on CAI. ValuEngine downgraded shares of CAI International from a strong-buy rating to a buy rating in a report on Thursday, February 15th. Wells Fargo & Co raised shares of CAI International from a market perform rating to an outperform rating and set a $35.00 price target on the stock in a report on Wednesday, February 14th. Cowen raised shares of CAI International from a market perform rating to an outperform rating and lifted their price target for the company from $34.00 to $46.00 in a report on Monday, October 23rd. Finally, William Blair reaffirmed an outperform rating on shares of CAI International in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $33.20.

CAI International (NYSE:CAI) opened at $21.90 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.91. CAI International has a 1-year low of $13.57 and a 1-year high of $40.11. The firm has a market cap of $421.97, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 0.70 and a beta of 2.11.

CAI International (NYSE:CAI) last issued its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.17. CAI International had a net margin of 20.68% and a return on equity of 11.69%. The business had revenue of $94.03 million for the quarter, compared to the consensus estimate of $95.66 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. equities research analysts forecast that CAI International will post 3.89 EPS for the current fiscal year.

In other news, Director David G. Remington sold 11,600 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $32.63, for a total value of $378,508.00. Following the transaction, the director now owns 4,581 shares of the company’s stock, valued at $149,478.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy B. Page sold 10,184 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $33.06, for a total transaction of $336,683.04. The disclosure for this sale can be found here. Insiders sold 25,824 shares of company stock worth $847,218 in the last three months. Insiders own 24.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CAI. Wells Fargo & Company MN lifted its holdings in shares of CAI International by 105.5% in the second quarter. Wells Fargo & Company MN now owns 106,614 shares of the transportation company’s stock worth $2,516,000 after buying an additional 54,734 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of CAI International in the second quarter worth $248,000. TIAA CREF Investment Management LLC lifted its holdings in shares of CAI International by 80.2% in the second quarter. TIAA CREF Investment Management LLC now owns 141,547 shares of the transportation company’s stock worth $3,341,000 after buying an additional 62,988 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in shares of CAI International by 23.0% in the second quarter. Nationwide Fund Advisors now owns 17,088 shares of the transportation company’s stock worth $403,000 after buying an additional 3,200 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of CAI International by 7.4% in the second quarter. Northern Trust Corp now owns 188,835 shares of the transportation company’s stock worth $4,457,000 after buying an additional 13,030 shares in the last quarter. 70.65% of the stock is currently owned by hedge funds and other institutional investors.

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CAI International Company Profile

CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.

Analyst Recommendations for CAI International (NYSE:CAI)

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